The London Intelligence tells London’s story through data. This new report explores the latest Snapshot of Londoners survey results, looking at how Londoners have been affected by the pandemic and lockdown, and their expectations for the year ahead. This issue is produced in partnership with Savanta.
The recession has already hit some – but not all – Londoners’ disposable income
While some Londoners remain financially stable as they save on childcare and transport costs, others have been shouldering the burden of temporary closures, job loss and reduced pay. These two groups are almost equal in size: nearly half of Londoners (45 per cent) have seen their disposable income fall since the beginning of the crisis, while one in six Londoners (17 per cent) have seen their income increase.
The number of hours worked by Londoners has plummeted
27 per cent of employed Londoners say they have worked less than 10 hours in the past week, compared to three per cent of workers normally. This shows the widespread impact of lockdown and school closures on economic activity, and the very large take up of the government’s Job Retention Scheme – as many as 29 per cent of London employees have been on furlough at some point since the introduction of the scheme in March.
RISK OF INCREASING POVERTY
Some Londoners are more likely to have seen their disposable income fall or be struggling financially
28 per cent of Londoners report struggling to make ends meet. This is highest for people who are new to the city, who have children aged under 18, who work part time, and those who are renting. It’s highest of all for people with a disability – almost half of this group are struggling to make ends meet.
Seven per cent of Londoners reported using a food bank in the last month, rising to 15 per cent of those aged 16 to 24, and 11 per cent of people with disabilities.
THE YEAR AHEAD
Londoners are more concerned about their finances and employment prospects than their health
Londoners are more pessimistic about their finances (29 per cent) and employment (23 per cent among those of working age) than their health (17 per cent). However, more Londoners are optimistic than pessimistic about their employment and financial prospects over the coming year, despite recruitment plummeting and uncertainty around reopening.
Most Londoners are planning to stay put over the coming year and are happy living in the city
Remote working could allow more workers to live outside the capital, but most Londoners expect to continue living in the city over the next 12 months. 65 per cent are happy living in London, though eight per cent also say they are unlikely to be living in London in 12 months’ time.